Corporation Tax

After setting up a new company, you will need to notify HMRC when the company becomes liable to corporation tax.

At the end of each corporation tax accounting period you will also need to compute the corporation tax charge then settle the liability and file the return in accordance with prescribed time limits in order to avoid penalties and interest.

The deadline to pay your Corporation Tax is before the deadline to file your company tax return. Generally, you must pay by 9 months and one day after the end of your company’s corporation tax accounting period and file by 12 months after the end of your company’s corporation tax accounting period.

If your company’s profits for an accounting period are at an annual rate of more than £1.5 million, you must normally pay your corporation tax for that period in instalments, all of which are due before the deadline to file your Company Tax Return.

We can provide full support in preparing your corporation tax computation, completing and filing your corporation tax return electronically with HMRC in the required iXBRL format and in good time in order to ensure you avoid unnecessary penalties and interest.